[abfunders]

I think it's a silly question, but I need to make sure I'm correct. I have the following client who is just starting in the market to search for a bridge loan.

Company does $6-7mm yearly
Townhouse and office building in MO appraised together for over $700,000.
Office is used by the company.
Separately, there is a townhouse sometimes leased. Currently vacant.
Both owned by the LLC free and clear.

They need around $500,000 as a LOC or hard money until the end of the year. Less than that, they're not interested in.

They are looking for rates of 8-10% bridge on the property until the end of the year when they have money coming in.

Now the silly part: They don't want ANYONE running their credit. Main owner is 40% owner, 5 others own the rest. They claim their credit is good. They probably won't even give you their social security number. I told him "no such thing," he said, "Find it." I told him, "I have a guy with property with a foreclosure and 15 unpaid late accounts - the guy's untrustworthy, that's why people run credit." I don't think such a thing exists, but if I'm wrong, then let's get a deal done.

[NickHubbard]

Just sent you a email.

[SBuchholz]

Just sent you a pm.